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Full name and abbreviation
of basic information: The Bity Group SA
abbreviation: Bity
operating status
is active. According to Bity's official website and social media information, the company continues to operate, providing cryptocurrency trading and related financial services, and celebrates its 10th anniversary in 2024, indicating its stable business.
Background
Founded in 2014, Bity was founded by its founders based on the belief that blockchain and decentralized technologies will profoundly impact finance and society, creating this Swiss cryptocurrency brokerage platform. Positioned as a bridge connecting traditional finance and the blockchain economy, Bity is committed to providing secure and compliant cryptocurrency trading services for individuals and businesses. The company emphasizes privacy protection, Swiss financial regulatory compliance, and a user-friendly experience, with operations covering cryptocurrency exchange, Bitcoin ATM networks, online payment solutions, and more.
Registered capital
disclosure information does not disclose Bity's specific registered capital. According to Swiss business registration practices, the legal minimum registered capital for a company limited by shares (SA) is CHF 100,000, but the actual registered capital of Bity is not clearly recorded.
Key Executive Backgrounds
Alexis Roussel (CEO, CEO): Roussel is one of the co-founders of Bity, with a background in law and fintech, focusing on innovation in blockchain technology and decentralized finance. He participated in the company's strategy formulation in the early days of its establishment, committed to promoting the popularization and compliant application of cryptocurrencies.
Laurent Kssis (Chief Technology Officer, CTO): Kssis is responsible for Bity's technology development and infrastructure, with extensive experience in blockchain technology and network security, driving the stability and security of Bity's trading platform.
Other executive information was not disclosed in detail through public channels.
Advisory Team
Bity does not publicly disclose the specific list or background of its advisory team. According to its official website and LinkedIn information, the company collaborates with professional institutions in the Swiss financial and legal fields (such as KPMG, which provides financial advice) and may support its compliance and strategic decisions through external advisors.
Enterprise Architecture
Bity's enterprise architecture is mainly modular functions, with core departments including:
Trading Services: Provide cryptocurrency exchange, OTC trading, and API services.
Technology Development: Responsible for platform development, wallet functionality, and security infrastructure.
Compliance and Risk Control: Ensure compliance with the Swiss Financial Markets Supervisory Authority (FINMA) requirements.
Customer Support: Provides multilingual support and personalized service.
The company's operations are concentrated in the Swiss headquarters, and there is no branch information.
Shareholding Structure
Bity's shareholding structure is not publicly disclosed. According to Crunchbase data, the company completed a $100 seed round of financing in 2016 and a $125 A round of financing in 2018, with investors including local Swiss venture capital, but the specific shareholder list and shareholding ratio have not been announced.
Company nature
Bity is a private limited company (SA) registered in the Commercial Register of the canton of Neuchartelle, Switzerland.
🏢 Enterprise classification
Bity falls under the FinTech industry, specifically classified as a cryptocurrency brokerage and blockchain service provider. Its business combines traditional financial services with emerging blockchain technology, positioning itself as an intermediary platform between cryptocurrencies and fiat currencies.
📊 Market Classification
Bity mainly serves the cryptocurrency market, Target customers include:
Individual investors: Seeking convenient and secure cryptocurrency trading and storage services.
Institutional Clients: Businesses requiring large transaction (OTC), API integration, or ICO compliance services.
Privacy-Conscious Users: Prefer small transactions without KYC.
The market is positioned for global customers, but it is dominated by local users in Europe, especially in Switzerland, emphasizing compliance and privacy protection.
🛠️ Service
Bity Provides the following core services:
Cryptocurrency Trading: Supports the exchange of major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), USDT, and fiat currencies (such as CHF and EUR).
Bitcoin ATM Network: Operates cryptocurrency ATMs in Switzerland, allowing users to buy and sell Bitcoin for cash.
Non-custodial wallet (Bity Wallet): Provides a secure mobile wallet that allows users to fully control their private keys, supporting payments and bill settlement.
Online Payment Solutions: Supports paying bills or making cross-border transfers using cryptocurrencies.
OTC Trading: Offers high-net-worth clients with high-volume trading services with a minimum transaction amount of CHF 500,000.
API Services: Provide a developer interface for businesses to buy and sell cryptocurrencies, suitable for wallet applications or other financial technology platforms.
ICO Compliance Services: Provides KYC/AML verification and fund custody services for Initial Coin Offering (ICO) projects in Switzerland.
⚖️ Regulatory Information
Bity Regulated by the Swiss Financial Market Supervisory Authority (FINMA), the specific information is as follows:
Regulatory License: Although the specific license number is not disclosed in public information, Bity has obtained a Financial Intermediary License from FINMA.
Regulated: Swiss Financial Market Supervisory Authority (FINMA).
Regulatory Effectiveness: Obtained a license shortly after the company's inception in 2014, with an undisclosed date but has been operating as a regulated entity since at least 2015.
Compliance Measures: Bity is a member of the Swiss Fintech Association (So-Fit), and its anti-money laundering (AML) processes are audited by the BDO, ensuring compliance with FINMA's KYC/AML requirements.
💱 Trading product
Bity The following trading products are supported:
Cryptocurrencies: including mainstream cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), USDT, NYM, etc.
Fiat currency: Supports major fiat currencies such as Swiss franc (CHF) and euro (EUR).
Precious Metals: Supports trading in cryptocurrencies and gold through VIP services.
Trading Pairs: Provide trading pairs for cryptocurrencies and fiat currencies, cryptocurrencies and cryptocurrencies.
💻 Trading software
Bity Trading Platform: A web-based trading interface (bity.com) that supports browser access and has a simple interface, suitable for both beginners and professional traders.
Bity Wallet: A non-custodial mobile wallet app available for iOS and Android, offering trading, storage, and payment capabilities.
API Interface: Provides developers with a RESTful API that supports automated transactions and wallet integration.
The platform emphasizes low latency and high security, employing multi-signature and cold storage technologies to protect user assets.
Deposit method:
Bank transfer (SEPA, SWIFT).
Credit/debit cards (Visa, Mastercard).
Mobile payments (Apple Pay, Google Pay, Twint, verified users only).
Cash (via Bitcoin ATMs in Switzerland).
Withdrawal method:
bank transfer to the user's bound bank account.
Cryptocurrency transfers to the wallet address specified by the user.
Limit: The daily transaction limit without KYC is CHF 1,000, which can be increased after completing KYC verification.
📞 Customer support
Support channels:
Live chat: Weekdays 9:00-18:00 (GMT+1) Support is provided through the chat window in the lower right corner of the official website.
Email: support@bity.com.
Social Media: Respond to user inquiries through X (@bity) or other platforms.
Languages: Multilingual support is available, including English, French, German, and more.
Personalized Service: Dedicated account manager and VIP support for high-net-worth clients and institutional users.
User feedback indicates that Bity's customer support is responsive, particularly in resolving trading issues and setting up accounts.
🔗 Core business and services
Bity's core business revolves around cryptocurrency brokerage and blockchain financial services:
Brokerage Services: Offers cryptocurrency buying and selling through a fixed-price model, suitable for users seeking a straightforward trading experience.
Payment Solutions: Implement daily cryptocurrency payment functions such as bill payments and cross-border transfers through Bity Wallet.
ATM Network: The Swiss localized network of Bitcoin ATMs enhances the convenience of cash transactions.
Enterprise Solutions: Supports enterprise customers through APIs and OTC services, catering to wallet integration and high-volume transaction needs.
Compliance Services: Provides fund custody and KYC/AML verification for ICO projects, ensuring compliance with Swiss regulatory requirements.
🖥️ technical infrastructure
Trading Engine: Bity uses a high-performance trading engine that supports fast order matching and low-latency execution.
Security measures:
Multi-signature wallet (Multi-Sig).
Cold storage protects most user assets.
SSL encryption and two-factor authentication (2FA).
Wallet Technology: Bity Wallet uses a non-custodial architecture, allowing users to have full control over their private keys, reducing platform risks.
API Architecture: RESTful APIs support high concurrency, making them suitable for enterprise-level applications.
ATM Technology: Bitcoin ATMs are equipped with biometric and AML compliance features, ensuring secure transactions.
🛡️ compliance and risk control system
Compliance Framework:
strictly adheres to FINMA's KYC/AML requirements.
Regularly undergoes AML audits by the BDO.
Provide compliance verification and fund custody services for ICO projects.
Risk Control Measures:
> Real-time transaction monitoring to prevent fraud and money laundering.
Tiered KYC verification, adjusting verification requirements based on transaction amounts.
Partnering with Swiss banks to ensure the security of funds cleared.
Privacy Protection: Offers options for small transactions without KYC, catering to privacy needs while complying with regulatory restrictions.
📈 Market positioning and competitive advantage
Market positioning: Bity is positioned as a leading cryptocurrency brokerage platform in Switzerland, emphasizing compliance, privacy protection, and a user-friendly experience, targeting individual investors, privacy-conscious users, and institutional clients.
Competitive Advantage:
> Swiss Regulatory Compliance: Regulated by FINMA, enhancing user trust.
Privacy-Friendly: The option of small transactions without KYC is unique in the market.
Low Transaction Fees: The official website claims to offer the lowest trading fees in the market.
Localized Services: The Swiss Bitcoin ATM network facilitates local users.
Diverse Services: From retail transactions to enterprise APIs, covering a wide range of needs.
Key competitors include local Swiss crypto platforms like Bitcoin Suisse and SwissBorg, as well as global exchanges like Binance and Coinbase.
🤝 Customer support and empowerment
Support Experience: Bity offers multi-channel and multilingual support, with user feedback indicating that its team is professional in problem-solving and account setup.
Empowerment measures:
Provide detailed FAQs and blog guides to help newcomers get started quickly.
Simplify everyday cryptocurrency usage scenarios with Bity Wallet.
Provide API documentation and technical support to enterprise customers, facilitating business integration.
VIP Services: Provide customized trading plans and exclusive support for high-net-worth clients.
🌍 Social Responsibility & ESG
Social Responsibility: Bity supports the decentralized concept of blockchain technology and is committed to promoting financial inclusion and transparency.
Environmental: Bity has not publicly disclosed specific environmental initiatives, cryptocurrency transactions and ATM operations may involve energy consumption, but the company has not mentioned carbon neutrality or energy-saving plans.
Social: By simplifying cryptocurrency transactions and payments, Bity provides users with more financial autonomy, especially in terms of privacy protection.
Governance: As a FINMA-regulated entity, Bity adheres to strict governance standards and undergoes regular audits, emphasizing transparency and compliance.
🤲 strategic cooperation ecosystem
Financial Partners:
Collaborate with local Swiss banks to ensure the security of funds clearing and custody.
Partnering with KPMG for financial advisory.
Partner with BDO for AML audits.
Industry Collaboration:
Partnering with Nym Technologies SA to support NYM token trading.
Establish strategic cooperation with UFC (Union of Financial Corners) to expand traditional currency exchange services.
Technology Ecosystem: Integrate with wallet applications and other fintech platforms through APIs to enhance service coverage.
💰 Financial health
Revenue Sources: Primarily from transaction fees, OTC services, API subscriptions, and ATM operations.
Financing: Cumulative financing of approximately $225 ($100 in the seed round in 2016 and $125 in Series A in 2018).
Sales figures: According to Dun & Bradstreet estimates, Bity's annual sales are approximately $35.58M (based on model estimates and may not be accurate).
Financial Stability: Bity has been in operation for 10 years, handling over 1 billion Swiss francs in customer funds without major security incidents, indicating strong financial and operational stability.
Specific financial statements are not disclosed, limiting more detailed analysis.
🚀 Future roadmap
Brand Upgrade: Launch of a new brand image and website in 2024, with plans to further enhance user experience.
Service Expansion: Plans to add support for more cryptocurrencies and payment methods (e.g., Visa, Mastercard have been enabled in 2024).
Technological Innovation: Continuously optimize Bity Wallet and API functions to enhance daily usage scenarios for non-custodial wallets.
Market Expansion: While primarily based in Switzerland and Europe, Bity plans to expand its global reach through partnerships.
Compliance Enhancement: Continue to invest in compliance and risk control systems to ensure staying ahead of changes in the regulatory landscape.
